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Morgan Stanley plans buffered PLUS due 2024 linked to S&P 500
By Sarah Lizee
Olympia, Wash., May 15 – Morgan Stanley Finance LLC plans to price 0% buffered Performance Leveraged Upside Securities due May 21, 2024 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
The notes will be guaranteed by Morgan Stanley.
If the final index level is greater than the initial index level, the payout at maturity will be par plus 342.5% of the index return, capped at par plus 50%.
If the final index level is less than or equal to the initial index level but has decreased from the initial index level by no more than 10%, the payout will be par.
If the final index level has decreased from the initial index level by more than 10%, investors will lose 1% for every 1% decline beyond 10%.
Morgan Stanley & Co. LLC is the agent.
The notes will price May 16.
The Cusip number is 61769HCH6.
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